In macroeconomics, _____ refers to the purchase of new capital
Fill in the blank(s) with correct word
investment
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A business owned by two or more joint owners, or partners, who share the responsibilities and the profits of the firm and are individually liable for all the debts is a(n)
A) corporation. B) entrepreneur. C) proprietorship. D) partnership.
The process of accumulation that occurs when interest is paid on previously earned interest is called:
A. present valuation. B. backdating. C. compounding. D. front loading.
Economic growth is a result of:
A. A reduction in the unemployment rate B. An increase in the opportunity costs of production C. A decrease in the demand for resources D. An increase in the supply of resources
Moving downward on a downward sloping linear demand curve, the absolute value of the price elasticity of demand
A) is constant. B) increases continuously. C) decreases continuously. D) may either increase or decrease.